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Questions and Answers
Which business form has the advantage of limited liability for its shareholders?
Which business form has the advantage of limited liability for its shareholders?
- Sole Proprietorship
- Limited Partnership
- Corporation (correct)
- General Partnership
In which business form are the profits taxed directly as income to the sole proprietor?
In which business form are the profits taxed directly as income to the sole proprietor?
- General Partnership
- Corporation
- Limited Partnership
- Sole Proprietorship (correct)
Which business form allows the owner to retain all the profits?
Which business form allows the owner to retain all the profits?
- Sole Proprietorship (correct)
- Limited Partnership
- General Partnership
- Corporation
Which business form has a structure where one partner has managerial/operational control over the business and another partner's liability is limited to their capital contributions?
Which business form has a structure where one partner has managerial/operational control over the business and another partner's liability is limited to their capital contributions?
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In which business form is the personal liability for all business debts/obligations a disadvantage?
In which business form is the personal liability for all business debts/obligations a disadvantage?
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